IPG Investment Advisors LLC Takes $1.50 Million Position in Insulet Co. (NASDAQ:PODD)

IPG Investment Advisors LLC bought a new stake in Insulet Co. (NASDAQ:PODD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,732 shares of the medical instruments supplier's stock, valued at approximately $1,496,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. raised its position in Insulet by 3.5% in the 4th quarter. Baillie Gifford & Co. now owns 2,355,683 shares of the medical instruments supplier's stock valued at $614,998,000 after purchasing an additional 79,982 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Insulet by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,738,601 shares of the medical instruments supplier's stock valued at $403,339,000 after purchasing an additional 22,850 shares during the last quarter. Norges Bank acquired a new position in Insulet in the fourth quarter valued at approximately $248,806,000. Artisan Partners Limited Partnership raised its position in shares of Insulet by 24.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 770,188 shares of the medical instruments supplier's stock valued at $201,073,000 after acquiring an additional 149,524 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Insulet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 646,959 shares of the medical instruments supplier's stock valued at $168,902,000 after purchasing an additional 10,694 shares during the period.

Insulet Price Performance

Shares of NASDAQ PODD traded down $16.28 during midday trading on Thursday, reaching $252.85. The stock had a trading volume of 338,398 shares, compared to its average volume of 705,648. Insulet Co. has a 12-month low of $160.19 and a 12-month high of $289.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.80 and a current ratio of 3.68. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 3.62 and a beta of 1.29. The stock has a 50-day moving average of $270.97 and a 200-day moving average of $259.47.

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Insulet (NASDAQ:PODD - Get Free Report) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.15. Insulet had a return on equity of 24.46% and a net margin of 20.19%. The firm had revenue of $597.50 million during the quarter, compared to analysts' expectations of $582.02 million. As a group, research analysts anticipate that Insulet Co. will post 3.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Insulet news, Director Wayne A.I. Frederick sold 1,825 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $275.00, for a total value of $501,875.00. Following the completion of the sale, the director now owns 3,231 shares of the company's stock, valued at $888,525. This trade represents a 36.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric Benjamin sold 12,394 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now owns 11,383 shares in the company, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PODD has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Insulet from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Royal Bank of Canada started coverage on Insulet in a research report on Thursday, March 6th. They set an "outperform" rating and a $340.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Insulet from $245.00 to $293.00 and gave the company a "hold" rating in a report on Friday, February 21st. Wells Fargo & Company raised their price objective on shares of Insulet from $305.00 to $322.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, TD Cowen increased their price objective on Insulet from $264.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $292.06.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.